S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
1RT Acquisition Corp. (NASDAQ:ONCHU) announced the completion of its initial public offering and a concurrent private placement, according to a press release statement based on a filing with the Securities and Exchange Commission.
On July 3, the company finalized its IPO with the sale of 17,250,000 units at $10.00 per unit. This total includes 2,250,000 units issued following the full exercise of the underwriters’ over-allotment option. Each unit consists of one Class A ordinary share and one-quarter of one redeemable warrant, with each whole warrant allowing the purchase of one Class A ordinary share at an exercise price of $11.50 per share. Gross proceeds from the IPO amounted to $172,500,000.
Simultaneously, 1RT Acquisition Corp. completed a private placement of 2,250,000 warrants at $2.00 per warrant, generating an additional $4,500,000 in gross proceeds. Of these, 1,500,000 warrants were sold to 1RT Acquisition Sponsor LLC, the company’s sponsor, and 750,000 warrants were sold to Cantor Fitzgerald & Co., the representative of the underwriters.
The company stated that a total of $172,500,000, or $10.00 per unit, including the underwriter’s deferred discount and proceeds from the private placement, was deposited into a U.S.-based trust account managed by Continental Stock Transfer & Trust Company.
1RT Acquisition Corp.’s securities began trading on the Nasdaq Stock Market LLC under the symbols ONCHU for units, ONCH for Class A ordinary shares, and ONCHW for warrants.
An audited balance sheet as of July 3, 2025, reflecting the receipt of proceeds from the IPO and private placement, was included as an exhibit to the SEC filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.